Incoterms

We have mastered the eleven widely recognized requirements for global maritime trade and transportation. These terms are established by the International Chamber of Commerce (ICC) to facilitate international business-to-business (B2B) commerce.

We help you navigate international trade without worrying about different laws in different countries.

We provide helpful advice that significantly simplifies business transactions and improves clarity.

The new incoterms are the following ones.

• EXW : Ex Work
• FCA : Free Carrier Alongside
• FAS : Free Alongside Ship
• FOB : Free On Board
• CFR : Cost and Freight
• CIF : Cost Insurance & Freight
• CPT : Carriage Paid To
• CIP : Carriage and Insurance Paid To
• DAT : Delivery at Terminal
• DAP : Delivery At Place
• DDP : Delivery Duty Paid
• FOB : Free On Board
• CFR : Cost and Freight
• CIF : Cost Insurance & Freight
• CPT : Carriage Paid To
• CIP : Carriage and Insurance Paid To
• DPU : Delivery at Place Unloaded
• DAP : Delivery at Place
• DDP : Delivered Duty Paid

Incoterms rules (International Commercial Terms) created in 1936 by the International Chamber of Paris – ICC (International Chamber of Commerce) concern international sales and purchases of goods and domestic. Revised every 10 years to reflect the evolution of international business practices, new version takes effect on January 1, 2020.

Incoterms define:

l the respective obligations of the seller and the buyer, the place of delivery1 and transfer of the risks related to the transport of goods to their destination (loss, theft, damage), the place of transfer of costs (packaging, handling, customs clearance, insurance, transportation, etc.),

• Documents (invoice, transport document, certificate insurance, etc.) owed by the seller to the buyer (or data computer equivalent).

Incoterms® do not define:

• The transfer of property2 of the goods defined in the GTC (general terms and conditions of sale) and/or in the contract.
• The law applicable to the contract, the competent court cases of disputes, the consequences of a breach of contract.